Make a statement

What is a finacial statement, and how can them to apply proportions, ratios, and rates?

Ready...

A financial statement reflects a consumer's or business' financial position.  There are varying qualities of financial statements.  For instance, large companies hire Certified Public Accountants (CPAs) to provide an audited statement.

These CPAs examine the company's records and determine if the company is following standard accounting and financial reporting practices.

Banks and lending institutions ask consumer to submit loan applications and financial statements prior to making a loan.  Most people would not hire an accountant to review, or pass judgment on these statements.

Lesson Vocabulary

Set...

What is a balance sheet?

Review the definition of an income & expense statement.  What is another name for this statement?

Down load the the financial statement workbook. Calculate your first entry -- the monthly salary.

Save the workbook to your work folder.

Go...

Down load the template and categorize the results of the brainstorming section.

Brainstorming

With your teacher brainstorm lists containing assets/income and liability/expense items that a consumer might have. Place these items into two the appropriate columns of the template.

Save a copy of the completed template and e-mail or submit your document to your teacher.

Locate the hourly wage for three or more jobs that you would want to have.

Find a job

In the California Occupation Explorer site explore the job that you think your interest in.  We will use the "Entry Rate" for our salary calculation.

Calculate the daily rate.  The ratio is 8 to 1

Calculate the weekly rate.  The ratio is 5 to 1

Calculate the monthly rate.  The ratio is 4 to 1

Enter the Monthly Rate in your Workbook. Make sure to save often.  You should use the formula features of Excel to complete the workbook.

Done Early?

Research other jobs on a national level. Explain why the jobs may have different pay rates on a national level.  Do you think that where you live makes a differnce on what you get paid? Explain your answer.

US Dept. of Labor and Statistics

Write up to one page report on your job.  The paper will be double spaced and 11 point Arial font.

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Last modified: 5/30/2012